December 16, 2004

Symantec Set to Buy Veritas (for $13.5 billion)

Cnet has reported Symantec saying Thursday that it will buy storage specialist Veritas Software in a deal worth roughly $13.5 billion. The combined company will form a powerhouse in security, systems and storage management software with about $5 billion a year in revenue. And will operate under the Symantec name, with John Thompson, Symantec's chief executive, serving as chairman and CEO.